A will, also called a last will and testament, is important for the testator to define, during their lifetime, how they wish to direct and dispose of their assets. It is a unilateral and revocable act, as the testator may modify it at any time.
An important point to note is that the testator can only manage 50% of his or her estate. This is because the other half must be shared among the necessary heirs (ascendants, descendants, and surviving spouse or partner).
A will is also an excellent option for those who do not have necessary heirs, and can use this instrument to dispose of all of their assets, without the limit mentioned above, thus preventing the assets from going to the State.
The disposition of a last will through a will can be formalized in several ways, as listed below. Consultation with a specialist lawyer is crucial to avoid the nullity of the will in the future and ensure that the testator’s wishes are assured:
– Public Will: written by a notary in a registry office and requires the presence of witnesses during the signing.
– Private Will: can be handwritten by the person (testator) or typed and generally requires the presence of witnesses and, in some places, subsequent confirmation by a notary.
– Closed Will: the testator writes or dictates his last wishes to a notary and the document is sealed and kept by the notary until the testator’s death.
– Military Will: Specific for military personnel on active duty. It can be made in war situations or when the testator is on military service.
– Living Will (or Living Will and Advance Directive): known as a biological will or living will, it deals not only with the distribution of assets, but also with the testator’s preferences regarding medical treatments in terminal situations.
